The most recent short interest data has been released for the 02/15/2018 settlement date, which shows a 902,003 share decrease in total short interest for National Fuel Gas Co. (NFG - Get Report), to 4,052,986, a decrease of 18.20% since 01/31/2018. Total short interest is just one way to look at short data; another metric that we here at Dividend Channel find particularly useful is the "days to cover" metric because it considers both the total shares short and the average daily volume of shares traded. The number of shares short is then compared to the average daily volume, in order to calculate the total number of trading days (at the average volume) it would take to close out all of the open short positions if every share traded represented a short position being closed. Average daily volume for NFG at the 02/15/2018 settlement increased to 895,578, as compared to 370,806 at the 01/31/2018 report. That brought "days to cover" down to 4.53, a 66.13% decrease from the 13.36 days to cover calculated at the previous short interest data release.The below chart shows the historical "days to cover" for NFG at previous short interest release dates: A decreased "days to cover" value could indicate that short sellers are no longer expecting the same decline in stock price they once were, or it could also indicate a long bet elsewhere was closed where NFG had been shorted as a hedge. The chart below shows the one year performance of NFG shares, versus its 200 day moving average. Looking at this chart, NFG's low point in its 52 week range is $48.31 per share, with $61.25 as the 52 week high point — that compares with a last trade of $50.23. According to the ETF Finder at ETF Channel, NFG makes up 3.64% of the First Trust Utilities AlphaDEX Fund ETF (FXU) which is up by about 0.2% on the day Wednesday.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
AbbVie Is Likely to Decline as Investors Digest Its Takeover Announcement
Let's look closer at the charts and indicators of ABBV.
2 Enigmatic Indices, Intriguing Oil, and Planet Fitness Slouches: Market Recon
Plus, a look at Ulta Beauty and a possible options play in the retailer.
Take-Two Interactive Looks Better on the Charts Than Activision Blizzard
Let's check out the charts of TTWO this morning.
Dow Futures Flat, Dollar Sips as Trade Concerns Trim Risk Appetite Ahead of G20
U.S. equity futures drifted lower Tuesday, setting up the S&P 500 for its first three-day decline since early May, as investors peel back from recent record highs and take a defensive stance on risk ahead of this weekend's G20 Summit in Japan.
Allergan Agrees to $63 Billion Takeover From AbbVie in Blockbuster Pharma Deal
Allergan shares surge in premarket trading Tuesday after it agreed to a $63 billion takeover from biopharmaceutical group AbbVie.